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  • Bitcoin trades lower today and underperforms the crypto market to trade 0.80% lower.
  • There is a channel developing on the one hour chart after the upside was rejected.

 

Today in the afternoon Bitcoin bulls tried to push the price higher but the sellers came in at 8226.78.

Interestingly the price has rejected the mean value area at the 8226 resistance. The next main support on the downside is the 8k level.  

On the higher timeframe, the trend is still down, there has been a consolidation between 7701.00 and 8535.00.

Over the weekend lookout for the to major level mentioned above.

Bitcoin analysis